Property and Casualty News

Homeowners and residents are invited to the Sonoma Valley Community Advisory Commission meeting on Monday, Nov. 17 at Sonoma City Council Chambers, where officials will tackle rising concerns over homeowners losing coverage in high fire-risk zones. More Sonoma Valley residents have been dropped by insurers or priced out of coverage as wildfire threats…

AM Best has downgraded the Financial Strength Rating to A+ from A++ and the Long-Term Issuer Credit Ratings to“ aa” from“ aa+” of State Farm Mutual Automobile Insurance Company and its affiliates, State Farm Fire and Casualty Company and State Farm County Mutual Insurance Company of Texas, collectively referred to as State Farm Group. AM Best has also taken ratings…

Shares of Loews Corporation (NYSE: L) traded at a new 52-week high today and are currently trading at $103.79. So far today, approximately 111.69k shares have been exchanged, as compared to an average 30-day volume of 605.32k shares. Loews Corporation provides commercial property and casualty insurance in the United States and internationally. The company offers […]

JB Pritzker on Thursday renewed his call for legislation requiring insurance companies to justify and disclose the reasons behind steep homeowners "insurance rate hikes— a proposal that stalled in the Illinois House last month despite support from the Democratic-controlled Senate. Pritzker said the state’ s lack of authority over insurers leaves…

National Union Fire Insurance Co., of Pittsburgh, filed suit on Oct. 8 against Michelle Ireland, 55, of the 400 block of N. Benton Road, who formerly worked as a travel agent at the AAA Port Clinton location. Ireland pocketed close to $516,000 in cash payments from AAA customers "for her own personal benefit," according to civil and criminal court records.

Connecticut families are stretched thin. Government-driven inflation has raged for four years, everything costs more, insurance premiums keep climbing, and small employers are struggling with rising expenses they can't control. Let's start with a basic fact: Connecticut doesn't cap compensatory damages in medical malpractice cases.

The following information was released by the United States Attorney's Office for the Eastern District of Pennsylvania:. United States Attorney David Metcalf announced that Louis Belletieri, 44, of Allentown, Pennsylvania, was sentenced today to 54 months' imprisonment, three years of supervised release, and to pay over $6 million in restitution by United…

The job losses include 318 workers at print wholesaler Baker& Taylor in Momence, 185 at DeKalb wiring manufacturer Panduit, and 180 at Virgin Hotels Chicago. J.B. Pritzker says the Illinois General Assembly should move forward next year with legislation to regulate homeowners insurance rates. Prosecutors say Denali Group, Inc. submitted false customer…

Arch Mortgage Insurance Company announced it has obtained over $249 million of indemnity reinsurance on a pool representing approximately $54.2 billion of mortgages from Bellemeade Re 2025-1 Ltd., a special purpose reinsurer. This transaction largely covers a portfolio of MI policies issued by Arch MI and affiliates primarily from July 2024 through…

Shares of Loews Corporation (NYSE: L) traded at a new 52-week high today and are currently trading at $104.89. So far today, approximately 116.3k shares have been exchanged, as compared to an average 30-day volume of 603.88k shares. Loews Corporation provides commercial property and casualty insurance in the United States and internationally. The company offers […]

Homeowners across California will soon see a new charge on their monthly insurance bills to help pay claims arising from this year "s devastating Los Angeles wildfires. "If these surcharges stand, it" s almost certain that consumers will see future surcharges on their bills, "said Carmen Balber, executive director of Los Angeles- based Consumer Watchdog, which has…

It's no secret that car insurance is expensive for many Americans. The average driver pays $2,310 per year for full-coverage car insurance, according to Insurify data. That figure rises to 68% if it could save them $1,000 a year on car insurance.

A new report from the Insurance Research Council, Rate Regulation in Homeowners Insurance: Comparison of State Systems, finds that the time it takes to obtain approval for homeowners insurance rate filings increased substantially across the United States between 2010 and 2024. The average number of days from filing to rate approval increased by more than…

For drivers who’ ve ever felt like their auto insurance premium doesn’ t reflect how they actually drive, new research from mobility data and analytics company Arity suggests they’ re not alone. In a survey of 1,000 U.S. drivers with characteristics that may impact insurance access– such as lapsed coverage, traffic violations, or low credit scores– Arity uncovered a…

Rainbow, the leading small business insurance platform built for independent agents, today announced the launch of its Excess& Surplus Lines Business Owner’ s Policy for restaurants in California and Texas. The quoting process is completely seamless for our agents,” said Bobby Touran, CEO and Co-founder of Rainbow.“ We’ re proud to give our agents and partners…

According to the Bureau of Labor Statistics, average policies have gone up 55% in the last three years. Mark Fitzpatrick, a licensed property and casualty insurance producer and a personal finance expert at MoneyGeek, explains why prices are rising and what drivers can do to save. 6 questions with Mark Fitzpatrick.

The coming year may pose challenges to insurers that are outside their control, such as economic uncertainty and weather catastrophes.

Shares of Loews Corporation (NYSE: L) traded at a new 52-week high today and are currently trading at $102.88. So far today, approximately 31,255 shares have been exchanged, as compared to an average 30-day volume of 620.84k shares. Loews Corporation provides commercial property and casualty insurance in the United States and internationally. The company offers […]